A major player in the pharmaceutical sector, Mankind Pharma Limited, is preparing for a big financial move to strengthen its operating capacity. The plan to raise up to Rs 10,000 crore through non-convertible debentures (NCDs) and commercial papers (CPs) was authorized by the company’s board of directors on September 20, 2024. Mankind Pharma’s strategic intention to increase its liquidity and finance expansion plans is reflected in this move.
A special fundraising committee appointed by the board has the authority to finalize the details of the proposed NCDs and CPs. Mankind Pharma has promised its stakeholders that it will promptly disclose any new information about this financial venture via the proper methods.
Current Performance of Stocks Mankind Pharma’s stock performed very well on the National Stock Exchange (NSE) on the day of the announcement, ending at Rs 2,546, indicating a noteworthy rise of 5%, in keeping with the encouraging news surrounding this funding. Investor confidence in the company’s strategic choices and prospects for future growth is indicated by this spike.
Highlights of Finance Mankind Pharma revealed a consolidated net profit of Rs 536 crore for the quarter that ended in June 2024, demonstrating strong financial health in the face of difficult market conditions.
The company’s operations generated Rs 2,893 crore in revenue over that same period, a 12% rise. But costs increased by 15.5%, demonstrating that the business is still investing in growing its capabilities.